Indian Land, South Carolina housing market remained a seller’s market in June 2020 despite ongoing pandemic concerns. Home prices increased, homes sold quickly with median days on market just 14 days. Months supply of homes was low at 2 months and inventory also dropped year-over-year. Not many negotiating opportunities for home buyers in June.
Indian Land, SC Housing Market Snapshot: June 2020
Latest news on the Indian Land real estate market in June 2020 and what it means for you…
The Indian Land, South Carolina (29707 zip code) housing market remained a seller’s market in June with just 2 months supply of inventory overall, down 41.2% from 3.2 months in June 2019. Housing inventory was down 33.4% in June year-over-year despite a 15.8% increase in new listings. New construction inventory, long a staple of Indian Land housing, was down 43.8% year-over-year.
Both average and median sale prices increased in June to $368,578 and $365,000, respectively. Average sale prices increased 10.2% year-over-year and median sale prices increased 7.4% year-over-year. New construction prices were about $50,000 higher, on average, than resale home prices, increasing 8.3% year-over-year.
Closed sales increased in Juneby 22.8% year-over-year. Pending sales increased 42% versus June 2019. Despite the pandemic, home buyers were out in full force in the Indian Land area in June 2020.
Average days on market were 41 days (up 1 day year-over-year). Median days on market were 14 days (down 5 days year-over-year). Because of buyer demand and low inventory, Indian Land homes continue to sell quickly.
With home sellers receiving 98.9% of asking price in sale price (up 1.0% year-over-year), the negotiating opportunity for home buyers in Indian Land was negligible in June.
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